NASHVILLE – Tennessee Gov. Bill Haslam and Economic and Community Development Commissioner Bill Hagerty along with Yamaha Jet Boat Manufacturing USA, Inc. officials announced today the company will expand operations by purchasing an additional building located adjacent to its current production facility in Vonore. Yamaha, the largest manufacturer of 19-foot to 24-foot sport boats in the United States, will invest $17.7 million and create 150 new jobs in Monroe County.

“We want to congratulate Yamaha on this expansion and thank the company for its continued investment and new jobs that will be created in Vonore,” Haslam said. “Yamaha is a brand known around the world, and it says a lot that they are expanding here in Tennessee. We appreciate Yamaha for creating 150 new jobs in East Tennessee and for bringing us another step closer toward our goal to make Tennessee the No. 1 location in the Southeast for high quality jobs.”

“Tennessee was recently named the top state in the nation for foreign direct investment job commitments, and this ranking is further solidified when a global giant like Yamaha chooses to grow its footprint here,” Hagerty said. “Our state is home to 864 foreign-based establishments employing more than 116,000 Tennesseans, and I applaud Yamaha for utilizing our highly qualified and skilled workforce to produce its first-class, signature sport boats.”

Yamaha’s new facility will add more than 36,000 square feet of production and office space. The company plans to be operational in the new location by late 2015 with production slated to begin mid to late 2016.

“Having just completed a plant expansion in 2013, we are excited to continue to invest and grow our production operation in Monroe County,” Mike Fishback, general manager of Yamaha Jet Boat Manufacturing USA, said. “We have one of the most innovative boat manufacturing facilities in the world which has enabled Yamaha boats to continue to be the best selling 16-foot to 25-foot family runabout boats in the industry. With the continued strong demand for our products and positive outlook for future growth, this expansion will help us achieve our long-term growth objectives. We are proud to help contribute to the economy by creating and sustaining positive long-term job opportunities.”

“I would like to express my appreciation to Yamaha for choosing their Vonore, Tennessee facility located on Tellico Lake for their new expansion,” Monroe County Mayor and Tellico Reservoir Development Agency Board Member Tim Yates said. “Our regional economy will greatly benefit from the new jobs being created.”

“TVA and Loudon Utilities Board congratulate Yamaha on its latest announcement to expand its Vonore manufacturing plant,” TVA Senior Vice President of Economic Development John Bradley said. “We are pleased to partner with the state of Tennessee, Monroe County Economic Development, and the Tellico Reservoir Development Agency to support Yamaha’s investment that will create 150 additional jobs in the community.”

About the Tennessee Department of Economic and Community DevelopmentTennessee was named “2013 State of the Year” for economic development by Business Facilities magazine. The Tennessee Department of Economic and Community Development’s mission is to develop strategies which help make Tennessee the No. 1 location in the Southeast for high quality jobs. The department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Find us on the web: tn.gov/ecd. Follow us on Twitter: @tnecd. Like us on Facebook: facebook.com/tnecd.